Shareholders to vote on split transaction on Feb. 5
Split sale to impact 700 positions in retail and small business segment
The bank announced a split sale to Fairstone Bank, National Bank last year
The bank announced this week it will be split and sold to Fairstone and National Bank
Fairstone is buying its commercial operations for $1.9B
Impaired loans continue to grow amid elevated interest rates, uncertainty
Smaller banks less diversified than Big Six, but still poised for growth
The bank's profit level is up about $10M from the same period last year
Kevin Gopaul becomes CIO of REX Financial Canada
Deal includes about 2,050 clients and $250 million in assets